437 4th St W · Birmingham, AL 35204

$79,500

2 bd · 1.0 ba · 942 sqft · SingleFamily public records · 63 Days on market

Built 1950 6,969 sqft lot $84/sqft · 32% above area Est $60k · 32% over

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.1/30.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• Appreciation +5.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Great opportunity across from historic Legion Field! With several updates already completed, this home is perfect for investors or first-time buyers. Convenient location with strong potential—don’t miss out! The seller is only willing to complete the "lender required" repairs.

Key facts

• Several updates
• Strong potential
• Convenient location

Tags

• HISTORIC LEGION FIELD
• SEVERAL UPDATES
• CONVENIENT LOCATION
• STRONG POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($934 rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 6.2% in Birmingham — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#78 in AL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, schools F, crime F.
• Birmingham City (urban): math 4% / reading 20% proficiency, ranked #116 of 129 in AL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 64 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 32% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($550 loan paydown + $510 appreciation (0.6% local appreciation)).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,730 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.47%
• DSCR: 1.60
• GRM: 7.1

CMA / ARV

• ARV (median comp): $60,216
• List price: $79,500
• Delta: 32.02%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
446 1st St N	0.42mi	2/1.0	1,034 (+10%)	13mo	$75,000	$73	54
820 4th Ct W	0.47mi	2/1.0	806 (-14%)	4mo	$45,000	$56	50
724 Alabama Ave SW	0.61mi	2/1.0	820 (-13%)	8mo	$64,000	$78	43
905 7th St W	0.58mi	3/1.0 (+1)	1,029 (+9%)	13mo	$85,000	$83	41
855 5th St W	0.44mi	3/1.0 (+1)	1,016 (+8%)	24mo	$87,000	$86	41
719 Washington Ave SW	0.63mi	3/1.0 (+1)	1,064 (+13%)	13mo	$40,000	$38	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.72×
• Total profit: $15,995
• Equity at exit: $25,665

10-year hold

• IRR: 18.3%
• Equity multiple: 3.14×
• Total profit: $47,577
• Equity at exit: $32,994

Cash invested: $22,260 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 35204

• Home prices YoY: 0.3%
• Active inventory: 64
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $934 high
• Mortgage (P&I): −$417
• Tax from tax record: −$38 /mo · $458/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $250

Break-even live

Break-even rent $618

Max offer price $79,500

Occupancy floor 68%

Sensitivity live

Price	-10% $295	-5% $272	+0% $250	+5% $227	+10% $205
Rent	-10% $176	-5% $213	+0% $250	+5% $287	+10% $324
Rate	-1.0pp $290	-0.5pp $270	base $250	+0.5pp $229	+1.0pp $208

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
624 4th Ct W Birmingham, AL	3.0	1.5	992	$1,250	$1.26	44d	1	0.29mi
617 7th St W Birmingham, AL	3.0	1.5	1120	$1,175	$1.05	44d	1	0.33mi
413 Fulton Ave SW Birmingham, AL	3.0	1.0	940	$525	$0.56	4d	1	0.34mi
908 4th Ave W Birmingham, AL	2.0	1.0	700	$745	$1.06	24d	1	0.58mi
905 7th St W Birmingham, AL	3.0	2.0	1029	$1,150	$1.12	44d	1	0.58mi
719 Washington Ave SW Birmingham, AL	3.0	1.0	1064	$950	$0.89	12d	1	0.64mi
1000 4th Ave W Unit 4 Birmingham, AL	2.0	1.0	840	$823	$0.98	24d	1	0.65mi
1024 4th Ave W Unit B Birmingham, AL	2.0	1.0	840	$823	$0.98	44d	1	0.70mi
517 11th Ct W Birmingham, AL	2.0	1.0	970	$795	$0.82	44d	1	0.92mi
219 12th St W Birmingham, AL	2.0	1.0	800	$799	$1.00	24d	1	0.93mi
112 Kappa Ave S Birmingham, AL	3.0	2.0	1034	$1,100	$1.06	44d	1	0.93mi
405 11th St SW Unit B Birmingham, AL	2.0	1.0	1065	$800	$0.75	44d	1	0.97mi
1100 Cotton Ave SW Unit b Birmingham, AL	2.0	1.5	816	$988	$1.21	44d	1	1.09mi
1153 2nd St N Birmingham, AL	3.0	1.0	1056	$1,150	$1.09	20d	1	1.11mi
261 3rd Ave SW Birmingham, AL	1.0–2.0	1.0	634	$850	$1.34	4d	14	1.12mi
1228 Fulton Ave SW Birmingham, AL	2.0	1.0	900	$800	$0.89	45d	1	1.18mi
310 Gamma St S Birmingham, AL	3.0	1.5	1001	$1,200	$1.20	17d	1	1.25mi
1621 2nd Ct W Birmingham, AL	3.0	1.0	1074	$1,095	$1.02	44d	1	1.31mi
313 Beta St S Unit 317A Birmingham, AL	2.0	1.0	850	$799	$0.94	3d	1	1.34mi
506 Alpha St S Birmingham, AL	3.0	1.0	944	$1,373	$1.45	44d	1	1.35mi
2916 24th Street Ensley Birmingham, AL	2.0	1.0	850	$590	$0.69	24d	1	1.45mi
741 Center Pl SW Birmingham, AL	3.0	1.0	1101	$1,250	$1.14	17d	1	1.48mi
1400 7th Ave N Birmingham, AL	1.0	1.0	730	$961	$1.32	24d	3	1.49mi

Listing history 14 events

1. 2026-06-18
   days on market $79,500 Active 63 DOM
2. 2026-06-17
   days on market $79,500 Active 62 DOM
3. 2026-06-16
   days on market $79,500 Active 61 DOM
4. 2026-06-15
   days on market $79,500 Active 60 DOM
5. 2026-06-13
   pricedays on market $79,500 Active 58 DOM
6. 2026-06-10
   days on market $90,000 Active 55 DOM
7. 2026-06-09
   days on market $90,000 Active 54 DOM
8. 2026-06-08
   days on market $90,000 Active 53 DOM
9. 2026-06-07
   days on market $90,000 Active 52 DOM
10. 2026-06-03
    days on market $90,000 Active 48 DOM
11. 2026-06-02
    days on market $90,000 Active 47 DOM
12. 2026-06-01
    days on market $90,000 Active 46 DOM
13. 2026-05-31
    days on market $90,000 Active 45 DOM
14. 2026-03-20
    listed $90,000 Active 300-char remark

    Show marketing remark (300 chars)

    Great opportunity across from historic Legion Field! With several updates already completed, this home is perfect for investors or first-time buyers. Convenient location with strong potential—don’t miss out! The seller is only willing to complete the "lender required" repairs.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $458 · $38/mo
• Projected year-2 tax: $458 · $38/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,211
• − Mortgage interest: −$4,453
• − Property taxes: −$458
• − Insurance: −$398
• − Repairs & maintenance: −$897
• − Management: −$897
• − Depreciation: −$2,313
• Taxable income: $1,797
• Est. tax owed @ 24.0%: −$431
• After-tax cash flow: $2,568/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Birmingham City
• NCES district ID: 0100390
• Math proficiency: 4% ▼ -17.00%
• Reading proficiency: 20% ▼ -4.00%
• Median HH income: $31,988
• Composite: 9.49/100
• National rank: #9850
• State rank: #116 of 129 in AL

Livability — Birmingham

• Score: 67/100
• State rank: #78
• US rank: #10412

Category grades

Amenities C- Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety F User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Birmingham, AL
• County: Jefferson County · 527,445 people
• City population: 210,422
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 8,953
• Household income: $35,420
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 422.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 669,185 people
• By 2030: 669,694 · +0.1%
• By 2040: 661,388 · -1.2%
• By 2050: 643,086 · -3.9%
• By 2075: 577,267 · -13.7%
• By 2100: 474,758 · -29.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (86%)
• Race & ethnicity: Black 86% White 7% Hispanic / Latino 5% Two or more races 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Jefferson

• 2024 margin: D (+10.4) · D 54.6% · R 44.2% · Other 1.2%
• 2008→2024 swing: +5.4pp toward D · 2008: 5.1pp · 2024: 10.4pp
• All cycles: 2024: D+10.4 2020: D+13.2 2016: D+7.2 2012: D+6.0 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.64%
• Current HPI: 201.0777
• Rent YoY: —
• Metro: Birmingham-Hoover, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

1 event — show timeline

• 2026-03-20 Listed $90,000 Greater Alabama MLS

Property tax history

+7.1%/yr

Latest (2025): $458 · +0.0% YoY. Source: county tax records.